Topic: Networking and Event Hosting to Explode Your Real Estate Business
Bill Himmelstein, founder and CEO of Tenant Advisory Group, speaks with Freedom Chasers Podcast hosts Tim Winfrey Jr and Matthew Cavanaugh about the keys to networking and how to maximize networking to grow your business.
// KEY QUOTES
“What can I do best to support the growth of your business?”
“I want to structure my business so I can spend all day long supporting others. I know the more you give to others the more you are going to get back”
“The way I choose to help people is I try to support people that can be a client or people that can refer me to clients. What good is a network if you do not use it.”
“Ask people about their business. What is working, what isn’t working? Do you like your marketing team? Help your client get better marketing and you are helping the marketing team grow too.”
“Ask people what they do, but more importantly ask people how they do it.”
“Tenant Advisory group has 3 core values: Be Responsive, Do what you Say you are going to do, and put your clients best interest first”
// KEY CONCEPTS & TAKE AWAYS
• You shouldn’t give without an expectation of a return. You should strategically target good partnerships that you can reasonably expect a return for your help with.
• Relationships are two way streets. When you give something to somebody you should expect something in return.
• People looking for a real estate broker in the commercial field tend to already know somebody that is a commercial broker. Somebody at the board table knows one.
• People that are quick to give you their card I am skeptical of. I don’t look at networking as a game of numbers. Not how many cards you can hand out but how many of the right people you connect with
• You have to network with the end goal in mind. The end goal is to get in front of people that you can help grow and they can reciprocate that behavior.
• If you are talking to somebody that is not a fit you can still try to connect them with somebody in the room you know that may be a fit. Once you do you can ask them if they know anybody that is looking to connect with the same type of client you are looking for.
•If you get into a good room it is very important that you take advantage of that opportunity. Generally speaking the greater the cost of the event the greater the quality of guests there are.
Three keys to finding a good networking partner:
1) Find someone who shares similar values to you
2) They should be working with your avatar client already
3) Make sure they have a strong enough relationship with their clients
// TIME STAMPS
0:00 – Introduction
1:00 – Crazy story starts
2:10 – Is it worth your kneecaps? Mafia boss decides to not pay on a technicality
2:55 – 2nd story representing engineering firm
5:00 – Buyers wanting to take your commission
6:30 – Networking events
8:00 – Don’t give and expect nothing in return. Target your giving
10 – Target your networking. Give with expectations of return
11:45 – Matt summary focuses on getting some sort of return.
12:30 – Abundance vs scarcity mindset
16:30 – Make sure you are connecting with people that will bring you some work
17 – Cold calling is a numbers game
19 – When I started building relationships is when my business truly started growing.
19:55 – Three keys to finding a good networking partner
21:45 – Dive deeper into 1st key. Which is having similar mindset and values.
23:45 – Ask people how they do business after asking what they do
24:30 – What sort of answer is a red flag for you?
27:45 – The Second key
31 – How do you get out of a conversation with somebody that is not a fit
35:30 – Key #3
38:45 – Leveling up.
43:15 – Make sure an event is worth attending before going.
51:20 – What is your advice for people that don’t feel comfortable in a social setting?
56:10 – The more somebody else is talking the more they enjoy the conversation
1:08:08 – What is your vision for the next 12-24 months?
1:11:14 – How can the audience get in touch with you ?